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India to soon launch scheme focused on MMF, tech textiles
06 Nov '20
1 min read
Pic: Shutterstock
India will soon launch a scheme focused on man-made fibres (MMF) and technical textiles segment, according to textiles secretary Ravi Capoor, who recently told a virtual event organised by the Confederation of Indian Industry (CII) that the government is also looking at setting up a special export promotion council to promote the technical textiles segment.
The production-linked Focused Product Scheme’s emphasis is deliberate, he said.
Capoor also urged the domestic players to focus on the top 10 technical textile lines globally constituting about $82 billion, in which India's share is a miniscule 0.6 per cent. Huge benefits will be offered to kick-start these technical textile lines, he was quoted as saying by a news agency.
Capoor had earlier said the proposed Focused Product Scheme aims to promote both greenfield as well as brownfield investments in the specified segments.
The production-linked Focused Product Scheme’s emphasis is deliberate, he said.
Capoor also urged the domestic players to focus on the top 10 technical textile lines globally constituting about $82 billion, in which India's share is a miniscule 0.6 per cent. Huge benefits will be offered to kick-start these technical textile lines, he was quoted as saying by a news agency.
Capoor had earlier said the proposed Focused Product Scheme aims to promote both greenfield as well as brownfield investments in the specified segments.
Fibre2Fashion News Desk (DS)
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